Fondsrenditen analysiert. Insgesamt werden 2.778 US-amerikanische und 111 deutsche Aktienfonds mit jeweils lokalem Anlagefokus ….S. mutual fund managers apply Behavioral Finance based investment strategies, and how great the resulting success is. The … pays out for the managers of (and investors in) selective Behavioral Finance funds. Whereas also the results for the other …

. Insgesamt war der Einfluß der Persönlichkeitseigenschaften auf das Anlageverhalten jedoch relativ gering, und dabei vor allem …

' future expectations: (1) forecasts of future price, and (2) subjective confidence of future stock price, which includes 50 …%, 70% and 90% confidence intervals. Past volatility has a weak effect on future forecasts that are sensitive to minor …' confidence and improves forecast accuracy. The calibration of the confidence intervals was not affected by the stocks' volatility …

, Hackbarth (2004) concludes that managerial overconfidence and optimism may still enhance firm value. Accordingly, the manager’s … those of rational managers. The overconfidence and optimism story builds upon prominent stylized facts from the social … Tate (2004) stock option exercise decisions of managers are used as a proxy for overconfidence. Landier and Thesmar (2003 …

-causes volatility without feedback. These results are broadly consistent with behavioral models like the overconfidence and biased self …

This doctoral thesis investigates the influence of overconfidence on the outcomes in experimental asset markets, both … that is later used in economic experiments to measure subjects’ overconfidence. The second part investigates the role of … market overconfidence in the occurrence of bubbles in asset prices and the emergence of other stylized facts of financial …

Das erste Paper behandelt den Survivorship Bias bei Aktienfonds. Dieser stellt eine systematische Überschätzung der … nicht, was die Unterschiede zu Aktienfonds sind. Motiviert wird die Studie dadurch, dass das Sterben von Bondfonds bis dato … untersucht, jedoch aufgrund der geringeren Renditevolatilität im Vergleich zu Aktienfonds als unwichtig bezeichnet (Blake et al …

-agent-analysis is discussed, but also a survey among German mutual fund managers is conducted to detect their trading-habits in index …